I was wondering if I should use the MAR contract to purchase or a short form offer to do an assignment, when the home owner is a realtor? Also should I add my contingencies in the ADDITIONAL TERMS section of the contract to purchase? How would other investors go about this kind of situation? Thanks in advance for any help or insight about this kind of situation.
Correct me if I am wrong, but you are asking about MAR #501 use with an owner who is a realtor... because you know they may balk at your use of proprietary forms as a non-realtor?
I use NC Bar forms via licensed software. Formulator, ZipForms, TrueForm, ... all these vendors supply the "standard" forms via a licensing agreement. So if you use the MAR 501 form, any realtor that asks should understand that you (licensed) use is not a copywright infringement.
Not legal advice. My opinion only.
Thanks for the info. I didn't want to show up with a contract that would be useless as I'm not a realtor and was not sure if they are obligated to use the "official" forms or since I am not a realtor, I could show up with a short hand offer.
You also have the option of using the Greater Boston Real Estate Board forms.
They sell hardcopy and e-forms to non-members at http://www.formsforrealestate.com/
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